TeamWork\’s Blog

Remember the golden days for buyers maybe a year ago in Sarasota.Well, that time has pretty much passed and we are fast going back to a normal market.As of this writing there are 3,908 single family homes listed on the MLS in Sarasota and 575 sold in the past 30 days. That leaves about 6.8 months of inventory. Sarasota is in a neutral market headed towards a seller’s market.Under $150,000 there is four months of inventory. It is now a seller’s market.Under $250,000 there is 4.7 months of inventory. Again a seller’s market.One area is still a buyers market the over $1 million range there is almost 39 months of inventory.All the bestGreg Owens P.A.RealtorKeller Williams On the Water941.932.6343greg@teamworksfla.comwww.teamworksfla.com

Yep, it is true, the housing market in Manatee is continuing to recover.Let’s just take a quick peak at the numbers.Overall as of my writing this there are 2,923 single family homes on the market in the county. There have been 349 sold in the past 30 days. At this rate you have an 8.3 three month supply of homes on the market.That is not a bad market at all. It is a weak buyer’s market with a good supply of homes but not an over abundance.Break that down a bit more and just look at homes listed for $250,000 or less. You have 1,449 homes on the market with 236 selling in the past 30 days. Now you are in to a neutral market neither a buyer’s or seller’s at six months of inventor.This is signalling a shift and in this towards the sellers.Break it down one more time to under $150,000 and you have 736 homes on the market with 128 sales in that range within the past 30 days. You are now in to a weak neutral market definitely heading towards a seller’s market with just under six months of inventory.In that under $150,000 market in particular you are now seeing less and less desirable inventory, the big three so to speak, location, condition and price.One area where it is still a very strong buyer’s market. The over $1 million price range. There are 218 homes in that range with only four selling in the past month. That is just over a 54 month supply.All the bestGreg Owens P.A.RealtorKeller Williams On the Water941.932.6343greg@teamworksfla.comwww.teamworksfla.com

Real estate sales soar on Anna Maria Island – Business – BradentonHerald.com

There were a lot of real estate gurus out there predicting a slowdown in the market over the summer as the tax credit program ended.

Anecdotally we have not seen that.

In fact the inventory is down to a level in Manatee and Sarasota counties where multiple offers on properties be they short sales, foreclosures or equity sellers is not uncommon.

With just over a 7 month supply of single family homes in the market, under 3,000 in the case of Manatee County, we are slowly drifting towards a neutral market instead of the weak buyers market we are in now.

Foreclosures and short sales will continue to influence pricing but the lower amount of inventory on the market is becoming a strong factor in starting to move the prices upward.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

You know I still see quite a few For Sale By Owner properties in the Palmetto area.

It is tough enough for professional Realtors to sell homes these days with all the competition with short sales and foreclosures let alone trying to sell it on your own.

When you think about selling it yourself.

Think about this.

If you really need to sell it, it is not about brokerage fees, it is about the market and getting it sold.

You need a good market report on what is selling to ensure your property is priced to market values. Not what your neighbor said they sold for but really what the comparable homes are selling for.

The market determines the price buyers are willing to pay.

You need to know if you are a candidate for a short sale. You may not want to sell your home for less than you owe but there may be very few alternatives.

You need exposure to reach the largest audience possible. These days that means spending a bit of coin on the Internet.

You need to be weary of all the appropriate legal paper work, disclosures etc.

You will want to know up front that any potential buyer has the credit and financial ability to purchase before you let them in the door. Not someone saying I’m worth it, you need to have them prove it.

You need to stage your home.

You need to set up an answering service so it easy for potential buyers to get in if you are home or not.

Or you may just want to pick up the phone and ask a Realtor to do all this for you.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

A lot of the media is talking about the increase in prices and sales of both condos and single family homes in Sarasota and Manatee counties.

I get quite a few calls from people who are tempted to put their house on the market.

These fall in to two very distinct categories.

Sellers who know that prices have fallen back to where we were in early 2000 and are realistic about the market.

Sellers who don’t know about the market and are just trying to find out what is going on and are little bit shocked about the pricing in their neighborhood.

The good news is their is opportunity for both.

The sellers who know the market realize they will have to price their homes aggressively to compete with large number of short sales and foreclosures that still dominate our area.

The sellers who don’t know about the market are finding out that available inventory is dropping and that prices are slowly creeping back up.

For the latter, depending on when they bought, the opportunity to sell and get more than they paid could be months instead of years away.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

You know one of the best reasons to live in Palmetto Florida is the community.

The area is big enough so you have all the stores and amenities, yet small enough that yes, when you go to the local restaurant they do know your name.

Places like the Riverside Cafe or Riverhouse Grill.

You can sit watch the boats coming and going from the Regatta Point Marina.

You can sit by the water side and watch fish or dolphin playing in the Manatee River.

And the prices are not outrageous.

You can watch a over the Gulf of Mexico.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

Imagine a waterfront condo.

West facing unobstructed views of Tampa Bay and the Gulf of Mexico. The lights of the Sunshine Skyway Bridge off to your left.

From your front balcony you can see the sunset, from the rear the sunrise.

More than 2,000 sq. ft. under air conditioning.

All this and more for less than $250k.

Yep, and one just went on the market as a foreclosure and had three offers in a nano second.

The good news is the builder has several with similar views and they are looking at offers.

This is what paradise looks like.

All the best
Greg Owens P.A.
Realtor
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

For the past couple of years I have been telling everyone about the affordable waterfront properties in Sarasota and Manatee counties.

Homes from just over 200k on deep saltwater canals.

These were fantastic deals for boaters. Even without the house the lots were worth the money.

Those deals are drying up fast.

In fact we are seeing a slight up tick in waterfront prices. Yes, even the foreclosure waterfront properties are not coming in like the deals we had a year ago.

What the means for buyers is that better to move on a boatable waterfront property now.

Some of the builders still constructing waterfront homes are playing lets make a deal. Those won’t last long as the inventory is moving at a good pace.

For sellers of waterfront the trend looks like prices are stabilizing. Time to ponder putting your home on the market if you were inclined to do so.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

There were quite a few people predicting a market slow down in our area after the first time home buyer program expired.

So far I haven’t seen it. From Anna Maria to Siesta Key there are still buyers out there.

Key to that is the historically low interest rates combined with continuing low prices.

People are still going to retire or buy second homes in Florida. These people are not the typical first time home buyer market.

We are also seeing a resurgence of the move up market.

There are a number of people who bought before the boom and can still sell the home for more than they bought it for. These move up buyers are seeing that dream home in the price range they can afford now.

All the best
Greg Owens P.A.
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com